Listing Agency: CBRE | Chicago

Listed By: Matt Mulvihill Show Phone

Source: Cbre

Added: Mar 25 Changed: Sep 24 Last Checked: Oct 4 at 8:56AM

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Investment Insights

Based on property information with market context.

This commercial property offers potential for a Class 6B tax incentive and immediate access to the O’Hare North Cargo Entrance. The property features heavy power, with 7,200 amps at 480v. A 15,844 square foot crane bay includes a 15-ton crane rail already in place. The warehouse area has been updated with whitebox finishes and painted columns. New gas hanging units serve the warehouse, while new RTUs service the office area. The office space has been renovated with new paint, flooring, millwork, and ceiling tiles. Fire protection upgrades have been implemented, and restroom plumbing has been re-roughed with new fixtures installed. LED lighting is installed throughout the property. The property is located in Des Plaines, IL and has a total size of 107,486 square feet.

Key Highlights

• Immediate access to O’Hare North Cargo Entrance
• Heavy power - 7,200 amps @ 480v
• 15,844 SF crane bay with (1) 15‑ton crane rail in place**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$561,839

Cap Rate

4.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$11,236,780 $11.2M

Cap Rate 7%

$8,026,271 $8.0M

Cap Rate 9%

$6,242,656 $6.2M

Market Conditions

NOI Build-Up for 107,486 SF

Gross rent

$696.5K $6.48/SF

− Vacancy

−$35.5K −$0.33/SF

EGI

$661.0K $6.15/SF

− OpEx

−$99.1K −$0.92/SF

NOI

$561.8K $5.23/SF

Area

Cook County, IL

Vacancy

5.10%

Lease Rate

$6.48 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$11,236,780

Cap Rate 7%

$8,026,271

Cap Rate 9%

$6,242,656

Alternative Uses

Best Use

Office B

$21.17M

$18.53M – $24.70M (±1% cap)

NOI $1,482,056 @ 7.0% cap · market cap 12.53%

Second Best

Warehouse

$8.03M

$7.02M – $9.36M (±1% cap)

NOI $561,839 @ 7.0% cap · market cap 4.75%

Theoretical Best

Office A

$37.11M

$32.47M – $43.30M (±1% cap)

NOI $2,597,701 @ 7.0% cap · market cap 21.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Spa & Massage Center Nail Salon (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

394

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 60018, IL

30,051

Population

10,350

Households

2.9

Avg Household Size

40

Median Age

26%

College-Educated

82%

High-School Grad

16.6 sq mi

ZIP Area

1,810

Density / Sq Mi

$85,415

Median Household Income

$40,194

Median Earnings

$1,174

Median Rent

$302,400

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Warehouse with crane, heavy power, and office upgrades for sale.

Where is this warehouse located?

The property is located at 555 Santa Rosa Drive Des Plaines, IL.

What is the asking price?

The asking price for this property is $11,823,460.

What are key features of this property?

This property features: Immediate access to O’Hare North Cargo Entrance; Heavy power - **7,200 amps @ 480v**; 15,844 SF crane bay with (1) 15‑ton crane rail in place**